Termination Because of Insolvency. Either BII or BMI may terminate the Agreement with immediate effect by notice in written form in the event that BMI or BII, respectively, becomes insolvent, is declared bankrupt or adopts a plan of liquidation and dissolution.
Termination Because of Insolvency. Either Schering or BioMedicines may terminate the Agreement with immediate effect by notice in written form in the event that BioMedicines or Schering, respectively, becomes insolvent, is declared bankrupt or adopts a plan of liquidation or dissolution.
Termination Because of Insolvency. ERI may terminate the Agreement with immediate effect by notice in written form in the event that BMI becomes insolvent, is declared bankrupt or adopts a plan of liquidation or dissolution.
Termination Because of Insolvency. If Licensee is unable to operate its business in the usual manner, or if Licensee commences or becomes the subject of any proceeding under any applicable bankruptcy law, or if a court appoints a receiver, liquidator, custodian, or other similar official for Licensee or for any substantial part of its property, or if Licensee makes an assignment for the benefit of creditors, or if Licensee defaults on any obligation which is secured by a security interest, in whole or in part, in the Articles bearing the Property, or if Licensee fails generally to pay its debts as such debts become due, or if Licensee takes corporate action in furtherance of any of the foregoing, Licensee will give notice of that event immediately to Licensor. Whether or not such notice is given, Licensor will have the right upon the occurrence of any of those events, subject to the provisions of any applicable bankruptcy law and without prejudice to any other rights or remedies Licensor may have, to terminate this Agreement effective immediately by giving written notice to Licensee.
Termination Because of Insolvency. If LICENSEE is adjudicated a bankrupt, or if a petition in bankruptcy is filed against the LICENSEE, or if LICENSEE makes any assignment for the benefit of its creditors, or if LICENSEE commits any act of bankruptcy or takes the benefit of any insolvency law, or if LICENSEE defaults on any obligation which is secured by a security interest, in whole or in part in the Articles bearing the Licensed Marks, or if a receiver is appointed for LICENSEE or a substantial part of it business interests, this Agreement shall automatically terminate as of the earliest date on which any of the above events occurred without prejudice to any other rights which LICENSOR may have. Invalidity or unenforceability of Paragraph 16(d) of this Agreement shall not affect or render any other clause of this Agreement invalid.
Termination Because of Insolvency. If either party becomes insolvent, bankrupt, or enters receivership, dissolution, or liquidation, the other party may terminate this agreement with i mmediate effect. • Indemnification
Termination Because of Insolvency. Either party may terminate any or all Statements of Work immediately by notice to the other party if the other party suffers an insolvency event.
